2009-08-17-2008-08-01-2008-08-01

Bought second field and undrilled anticline in its Gasha Field in Dagestan region.

Transmeridian Exploration Inc., Houston, (Amex: TMY) has acquired a second field and an undrilled anticline in its Gasha Field in the Dagestan region of Russia from an undisclosed seller for an undisclosed price. Transmeridian owns a 50% interest in joint-venture partner Russia-based DNK LLC through a Russian subsidiary, which acquired the assets. The assets include a 125-square-kilometer Selli license containing both Selli Field and the Ullu Chai anticline. The company will fund an initial work program including a 200-square-kilometer 3-D seismic program and re-entry of four wells and drilling of two new evaluation wells. The license is immediately adjacent to DNK's Gasha license along the northwestern Caspian shoreline. The Russian government estimates recoverable resources for the developed portion of the assets of about 14.6 million barrels of oil for Selli Field and 11 million barrels for Gasha Field. DNK had production of last year of 450 barrels oil and 5.7 million cubic feet of gas per day from a previously untested interval in Well 28 during a multi-day testing program.